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TRUMP: "1,000 missiles are locked and loaded and aimed at Iran... Orders have already been given, and the U.S. Military is ready, willing, and able."
Vérifié
SK Hynix debuted in the U.S. at $170 per ADR, up 14% from its $149 IPO price, and quickly rose to $174 in early trading.
Trading under the temporary ticker SKHYV, the ADR sale raised $26.51 billion, making it the largest equity offering by a non-U.S. company.
Chairman Choi Tae-won said the company may issue more U.S. ADRs if returns improve and the share price remains stable, while focusing on long-term value.
Choi also said AI-driven demand has significantly increased the need for memory chips, and SK Hynix plans to expand its investment in the United States.
SK Hynix and Samsung Electronics recently announced a combined 800 trillion won investment in new chip fabs to double South Korea's memory production capacity within five years.
#SKHynixToExpandADRIssuance $SKHY
Trading under the temporary ticker SKHYV, the ADR sale raised $26.51 billion, making it the largest equity offering by a non-U.S. company.
Chairman Choi Tae-won said the company may issue more U.S. ADRs if returns improve and the share price remains stable, while focusing on long-term value.
Choi also said AI-driven demand has significantly increased the need for memory chips, and SK Hynix plans to expand its investment in the United States.
SK Hynix and Samsung Electronics recently announced a combined 800 trillion won investment in new chip fabs to double South Korea's memory production capacity within five years.
#SKHynixToExpandADRIssuance $SKHY
🚨 India Gold Discounts Surge to $19/Oz; PBOC Extends Gold Buying to 20th Month
India: Gold dealers offered discounts of up to $19/oz over official prices (incl. 15% import duty + 3% GST), versus $5 premium to $7 discount last week, as retail demand weakened.
Price Move: Domestic gold traded near ₹1,44,800/10g on Friday after touching ₹1,48,069/10g last week; international spot gold fell to a 2-week low.
China: Gold traded at $1/oz discount to $5/oz premium; the PBOC increased gold reserves for the 20th straight month, with June seeing the largest monthly addition in over 2½ years.
Regional Markets: Hong Kong launched a gold central-clearing system; premiums/discounts stood at -$1 to +$1.70/oz in Hong Kong, -$1 to +$2/oz in Singapore, and -$0.40/oz in Japan.
India: Gold dealers offered discounts of up to $19/oz over official prices (incl. 15% import duty + 3% GST), versus $5 premium to $7 discount last week, as retail demand weakened.
Price Move: Domestic gold traded near ₹1,44,800/10g on Friday after touching ₹1,48,069/10g last week; international spot gold fell to a 2-week low.
China: Gold traded at $1/oz discount to $5/oz premium; the PBOC increased gold reserves for the 20th straight month, with June seeing the largest monthly addition in over 2½ years.
Regional Markets: Hong Kong launched a gold central-clearing system; premiums/discounts stood at -$1 to +$1.70/oz in Hong Kong, -$1 to +$2/oz in Singapore, and -$0.40/oz in Japan.
🚨 Markets Scale Back Fed Hike Bets; July Rate Increase Odds at Just 21.9%
Money markets price only a 21.9% chance of a 25-basis-point Fed rate hike in July, per CME FedWatch.
Federated Hermes Chief Market Strategist Phil Orlando said the Fed is likely to look through the temporary energy-supply shock and keep rates unchanged.
Last week's weaker-than-expected US labour-market data has pushed expectations for any final Fed rate hike later into the year.
#Fed
Money markets price only a 21.9% chance of a 25-basis-point Fed rate hike in July, per CME FedWatch.
Federated Hermes Chief Market Strategist Phil Orlando said the Fed is likely to look through the temporary energy-supply shock and keep rates unchanged.
Last week's weaker-than-expected US labour-market data has pushed expectations for any final Fed rate hike later into the year.
#Fed
🇮🇳 RBI Starts Unwinding Record Dollar Forward Position
RBI has begun reducing its record $106.7 billion short dollar forward position, built over the past two years to support a persistently weak rupee.
The short dollar forward position reflects commitments to sell US dollars at a future date and had reached an all-time high in May.
Recent RBI measures are expected to attract foreign capital inflows, giving the central bank room to unwind its position.
The pace of the unwind is critical as Middle East tensions continue to pressure the rupee; moving too slowly prolongs exposure, while moving too quickly could dilute the benefits of incoming capital.
RBI has begun reducing its record $106.7 billion short dollar forward position, built over the past two years to support a persistently weak rupee.
The short dollar forward position reflects commitments to sell US dollars at a future date and had reached an all-time high in May.
Recent RBI measures are expected to attract foreign capital inflows, giving the central bank room to unwind its position.
The pace of the unwind is critical as Middle East tensions continue to pressure the rupee; moving too slowly prolongs exposure, while moving too quickly could dilute the benefits of incoming capital.
🔴🚨 US CBO: Federal budget deficit for the first 9 months of FY2026 reached $1.4 trillion, up $35 billion from the same period last year.
Receipts rose $142 billion (4%) to $4.2 trillion, helped by higher income and payroll taxes. Higher tariffs lifted customs duty collections by $55 billion (51%), while corporate tax revenue fell $86 billion (24%).
Outlays increased $178 billion (3%) to $5.5 trillion, outpacing revenue growth.
Spending on Social Security, Medicare and Medicaid rose $169 billion (7%). Interest costs on the national debt increased $98 billion (13%), while defense spending climbed $30 billion (5%).
Receipts rose $142 billion (4%) to $4.2 trillion, helped by higher income and payroll taxes. Higher tariffs lifted customs duty collections by $55 billion (51%), while corporate tax revenue fell $86 billion (24%).
Outlays increased $178 billion (3%) to $5.5 trillion, outpacing revenue growth.
Spending on Social Security, Medicare and Medicaid rose $169 billion (7%). Interest costs on the national debt increased $98 billion (13%), while defense spending climbed $30 billion (5%).
🚨 US 30-year mortgage rates rose to 6.49%, reversing last week's decline as renewed US-Iran tensions increased market uncertainty.
Freddie Mac said the average 30-year fixed mortgage rate was 6.43%, compared with 6.72% a year ago.
Rising geopolitical tensions have raised concerns that higher oil prices could keep borrowing costs elevated.
Higher mortgage rates continue to hurt homebuyer demand, with economists warning they could limit a housing market recovery in 2026.
Freddie Mac said the average 30-year fixed mortgage rate was 6.43%, compared with 6.72% a year ago.
Rising geopolitical tensions have raised concerns that higher oil prices could keep borrowing costs elevated.
Higher mortgage rates continue to hurt homebuyer demand, with economists warning they could limit a housing market recovery in 2026.
$MU || Micron Bets $250 Billion on U.S. Chip Expansion in AI Race
Micron will invest over $250 billion in the U.S. by 2035 to expand chip manufacturing.
Targets producing 40% of its global DRAM in the U.S.
Will invest up to $3 billion to strengthen the domestic semiconductor supply chain.
Providing $500 million to GlobalWafers and signing a 10-year supply agreement.
Idaho fab to start wafer production in mid-2027.
U.S. projects expected to create 90,000+ jobs, including 50,000 in New York with 9,000 direct roles.
Micron will invest over $250 billion in the U.S. by 2035 to expand chip manufacturing.
Targets producing 40% of its global DRAM in the U.S.
Will invest up to $3 billion to strengthen the domestic semiconductor supply chain.
Providing $500 million to GlobalWafers and signing a 10-year supply agreement.
Idaho fab to start wafer production in mid-2027.
U.S. projects expected to create 90,000+ jobs, including 50,000 in New York with 9,000 direct roles.
SK Hynix priced its U.S. ADR offering at $149 per share, representing a 3.1% premium to its closing price in Seoul.
$SKHYNIX
$SKHYNIX
🇨🇳 China's 10-Year Bond Auction Sees Record Demand
China's benchmark 10-year government bond auction drew a record 7.23 bid-to-cover ratio, with yields around 1.73%. The PBOC reaffirmed an "appropriately loose" monetary policy, while LCH expanded global access by accepting offshore yuan-denominated Chinese government bonds as collateral.
China's benchmark 10-year government bond auction drew a record 7.23 bid-to-cover ratio, with yields around 1.73%. The PBOC reaffirmed an "appropriately loose" monetary policy, while LCH expanded global access by accepting offshore yuan-denominated Chinese government bonds as collateral.
Axios cites US officials: The new campaign's duration and intensity depend on Tehran's next steps. The White House sees room for escalation as hundreds of oil tankers left the Gulf via the Strait of Hormuz recently. Their departure eased fears that conflict would spike oil prices. If the deal doesn't meet our wants, we won't make it.
#USLaunchesNewStrikesAgainstIran
#USLaunchesNewStrikesAgainstIran
US and euro-area government bond yields jumped after Trump said the US-Iran ceasefire was over. Rising oil prices added to the pressure. The 10-year US Treasury yield climbed 4.8 bps to 5.577%, while the 10-year German Bund yield rose 8 bps to 3.064%, according to Tradeweb.
#USLaunchesNewStrikesAgainstIran
#USLaunchesNewStrikesAgainstIran
🇺🇸 Trump on Iran: "Ceasefire Is Over"
Trump said the U.S. struck Iran after attacks on ships, called Iran's leaders liars, said talks can continue if they want, but added the Iran ceasefire is over.
#USLaunchesNewStrikesAgainstIran
Trump said the U.S. struck Iran after attacks on ships, called Iran's leaders liars, said talks can continue if they want, but added the Iran ceasefire is over.
#USLaunchesNewStrikesAgainstIran
🚨 KOSPI fell as much as 6%, down over 20% from its June peak, nearing a bear market.
Samsung dropped 7% and SK Hynix 5% as investors reassessed AI chip demand.
Chip stocks fell despite Samsung's 19-fold profit jump, as investors questioned AI-driven capex.
Fidelity warned that AI spending by a few tech giants may be difficult to sustain, increasing downside risks.
Samsung dropped 7% and SK Hynix 5% as investors reassessed AI chip demand.
Chip stocks fell despite Samsung's 19-fold profit jump, as investors questioned AI-driven capex.
Fidelity warned that AI spending by a few tech giants may be difficult to sustain, increasing downside risks.
$SAMSUNG || Nomura says Samsung Electronics remains undervalued despite recent weakness.
Preliminary Q2 operating profit of ~₩8.9T beat Nomura's ₩7.6T estimate.
Excluding an estimated ~₩2T one-off bonus provision, Q2 operating profit would be around ₩11T.
Nomura expects DRAM and NAND prices to rise 15–20% QoQ in Q3 on strong demand and tight supply.
Outlook supports improving memory-chip earnings momentum in the second half of the year.
Preliminary Q2 operating profit of ~₩8.9T beat Nomura's ₩7.6T estimate.
Excluding an estimated ~₩2T one-off bonus provision, Q2 operating profit would be around ₩11T.
Nomura expects DRAM and NAND prices to rise 15–20% QoQ in Q3 on strong demand and tight supply.
Outlook supports improving memory-chip earnings momentum in the second half of the year.
🚨 SK Hynix Launches $28B Nasdaq Listing Amid Chip Selloff
SK Hynix has launched its ~$28 billion Nasdaq listing, with trading expected to begin Friday.
The offering could become the largest-ever U.S. listing by a foreign company.
Morgan Stanley advised reducing exposure to memory chip stocks, saying the semiconductor rally is fading as investors rotate into hyperscalers.
SK Hynix shares in Seoul have fallen 17% this month, with recent volatility described as among the wildest in global chip stocks in years.
#SKHynixToBeginNasdaqTradingJuly10
SK Hynix has launched its ~$28 billion Nasdaq listing, with trading expected to begin Friday.
The offering could become the largest-ever U.S. listing by a foreign company.
Morgan Stanley advised reducing exposure to memory chip stocks, saying the semiconductor rally is fading as investors rotate into hyperscalers.
SK Hynix shares in Seoul have fallen 17% this month, with recent volatility described as among the wildest in global chip stocks in years.
#SKHynixToBeginNasdaqTradingJuly10
U.S. struck over 80 Iranian military targets on July 7 after attacks on commercial vessels in the Strait of Hormuz.
President Donald Trump approved the operation, with U.S. officials calling it "punishment" and saying strikes may continue.
OFAC revoked Iran General License X and issued General License X1, beginning the wind-down of authorized Iranian oil-related activities.
Iran vowed a "devastating response", while crude oil prices jumped and Asia-Pacific bond yields moved higher.
#USLaunchesNewStrikesAgainstIran
President Donald Trump approved the operation, with U.S. officials calling it "punishment" and saying strikes may continue.
OFAC revoked Iran General License X and issued General License X1, beginning the wind-down of authorized Iranian oil-related activities.
Iran vowed a "devastating response", while crude oil prices jumped and Asia-Pacific bond yields moved higher.
#USLaunchesNewStrikesAgainstIran
🚨 BREAKING: Hedge funds' bearish bets on the Japanese yen hit the highest level since 2007 as USD/JPY surges above 162, the yen's weakest level since 1986.
CFTC data shows net short yen positions at ~146,000 contracts (as of June 30), the largest since 2007.
USD/JPY breaks above 162 on widening Fed-Bank of Japan policy divergence.
Japan warns it may intervene to support the yen.
A forced unwind of the massive yen carry trade could trigger volatility across global markets.
CFTC data shows net short yen positions at ~146,000 contracts (as of June 30), the largest since 2007.
USD/JPY breaks above 162 on widening Fed-Bank of Japan policy divergence.
Japan warns it may intervene to support the yen.
A forced unwind of the massive yen carry trade could trigger volatility across global markets.
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